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market segmentation for chocolate industry

For instance, MycoTechnology, Inc. uses mushrooms to create sweeter chocolates with less sugar. Market growth in the milk chocolate segment will be slower than the growth of the market in the dark chocolate and white chocolate segment. Rising Premiumization Trend Drives the Global Chocolate Confectionery Sales The demand for premium chocolates is growing in almost every part of the world due to the evolving gifting tradition and its rising importance in consumers’ daily routines. The country’s per capita consumption of this confectionery items was at 4.5-4.6 kg, which is higher compared to sugar confectionery products at 3.0-3.1 kg/person in 2018. India chocolate market stood at $ 1.3 billion in 2017 and is projected to grow at a CAGR of over 16% to reach $ 3.3 billion by 2023, on account of increasing young population base, growing urbanization and rising trend of gifting chocolates. Chocolate Bar Market Research Report is a Proficient and In-Depth Study on the Existing State of Chocolate Bar Industry.This Report Focuses on the Major Drivers, Restraints, Opportunities and Threats for Key Players. Organic milk chocolate market 1.2. White Chocolate Market. An Infographic Representation of Chocolate Confectionery Market, To get information on various segments, share your queries with us. Cocoa is emerging as a healthy ingredient owing to its richness in antioxidants & minerals. The Consumer Staples industry is expected to have Positive impact due to the spread of COVID-19 virus. At what CAGR is the market projected to grow in the forecast period (2020-2027)? Segmenting-Divide the markets into specific segments of customers that share similar attitudes or behaviors in brand choice.When comparing with one-to-one marketing(not profitable) and mass marketing(low customer satisfaction),marketiing segmentation can make full use of resources to maximum the profits.Lindt,Coles and home made brands such as Coles and Wooworths do pretty well … The origin of cocoa is becoming an important factor in consumer purchasing decisions owing to the rising concerns regarding the safety of the product due to the presence of micro-organisms such as salmonella and heavy metal traces such as cadmium and lead. The company’s net sales increased by 2.2% in North America in the first quarter of 2020 due to increased buying ahead of the lockdown period. According to Dr. Oz, dark chocolate “keeps you looking and feeling younger because it helps you control your blood pressure, avoid wrinkles, keep your skin younger and stay slimmer.” A sweet treat that you can feel good about! Which is the leading segment in the market? Chocolate is the largest part of the $34.5 billion US confectionary industry. Market Segmentation and Product Positioning of Chocolate Candy Company Market Segmentation and Product Positioning Of Chocolate Candy Company Introduction The marketing strategy is part of overall strategy of the company, defining the main activities of the company in the market in respect of customers and competitors. For instance, Nestlé has patented a new process to naturally sweeten chocolate and to cut the use of refined sugar. Emerging Trend of Premiumisation to Drive Global Chocolate Sales. On the last Marketing Communication we were talking about how advertisements can be persuasive when it comes to chocolate brands. (According to latest FDA SURVEY data) A majority of consumers are located in the URBAN AREAS. Inorganic milk chocolate market 1. Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the Chocolate market. Inorganic dark chocolate market Technavio’s market research also … Swift Rise in Demand for Chocolate Confectioneries Due to Stockpiling During COVID-19 Lockdown. Chocolate market analysis indicates that the increasing premiumization of chocolates will drive market growth. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. The Global Chocolate Market size is expected to reach $171.6 billion by 2026, rising at a market growth of 5.3% CAGR during the forecast period Chocolate is … We value them as a research company worthy of building long-term relationships.”, “Well done Fortune Business Insights! In 2018, The Hershey's Company, which specializes in chocolate and cocoa products, had a market share of over 40 percent in the U.S. chocolate segment, making it the company’s main market. The market is ruled by few companies such as Cadbury, nestle, Mars, Heinz, Perfetti van etc. Request for a FREE Sample on the Impact of COVID-19. Global Industrial Chocolate Market By Application (Confectionery, Biscuits and bakery products, Dairy and desserts, Ice creams and frozen items, Cereals and other industrial chocolate applications) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026 Therefore, the rising demand for premium chocolates will influence the growth of the market size. growing health awareness and a high number of obese people in the region will significantly influence chocolate market growth in this region. Moreover, the demand for organic, sugar-free, vegan, and gluten-free chocolates is also driving the premium chocolate market. The players launch new products to cater to changing consumer demands. Europe is the largest market for confectionery products of chocolate and is expected to rise at a CAGR of 1.7% during the forecast period from 2020 to 2027. For instance, in February 2020, the company launched completely dairy-free chocolates to its plant craft range. United States Chocolate Industry. According to the Global Diabetes Community, U.K., it is estimated that 415 million people had diabetes in 2018 across the world and is expected to rise to 642 million people living with the disease worldwide by 2040. Get in touch. 2, pp. During 2020-2024, the chocolate market size will grow at a CAGR of over 5%. Top market players in the global chocolate market include Nestle SA, Mars Inc, Cadbury, Moonstruck Chocolatier Co, Ghirardelli Chocolate Co, Ferrero Group, Hershey Foods Corp, Barry Callebaut, and Amul (GCMMF). According to the U.S. Department of Agriculture, grocery store sales were up 99% in the middle of March and 25% higher on April 1st in 2020, compared to the previous year. The chocolate confectionery market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading distribution channels of the product. Consumer Staples market will have Direct impact due to the spread. Discover the world's research 19+ million members In 2016, the U.S. chocolate market was expected to reach $22 billion in projected sales. Dark chocolate is a rich source of antioxidants, balances the blood pressure level, and offers many other advantages that entice consumers to buy it in the market. Find industry analysis, statistics, trends, data and forecasts on Chocolate and Confectionery Manufacturing in Australia from IBISWorld. 1) Kinder This in the… Thus, the increasing number of people suffering from health conditions such as diabetes and cardiovascular diseases is expected to dampen the overall market growth during the forecast period. IMARC Group provides an analysis of the key trends in each sub-segment of the India chocolate market, along with forecasts for growth at the country and state level from 2020-2025. The milk chocolate segment is expected to be the leading segment in this market during the forecast period. due to which they are able to lead the market in this segment but their other product categories like biscuits & cakes are suffering due to the narrow product portfolio. Opportunities in Global Chocolate Market 5. Only 10 years ago, the undisputed conventional wisdom was that the Chinese did not drink coffee, eat chocolate or cheese. With the new technology in place, chocolate industry is set to grow. Thus, currently, many players are launching premium chocolates to attract consumers who are influenced by price, packaging, ingredients, exclusivity, and provenance. In the short term, the market demand will show Superior growth due to the increase in infections and reduced economic activity. Australia chocolate market stood at $ 2.9 billion in 2017 and is projected to surpass $ 4.3 billion by 2023, on the back of growing chocolate consumption and rising demand for niche product categories such as organic chocolate products. Almost one billion people around the world eat horse meat. The dark chocolate segment is expected to attain the largest market share in terms of value, owing to its increased application in the bakery and confectionery industry. Global Russia Chocolate Industry Market 2019 - Industry Analysis Size Share Trends Segment and Forecasts to 2025 +49 322 210 92714 (GMT OFFICE HOURS) Organic white chocolate market 1.2. It also Provides Granular Analysis of Market Share, Segmentation, Revenue Forecasts and Regional Analysis till 2022. The emerging trend of clean-label and organic products to maintain overall health & wellness has increased the demand for dark & sugar-free chocolate snacks with higher cocoa content. According to CBI Ministry of Foreign Affairs (EU), the global per capita consumption of chocolate was 0.9 kg per year while the same is higher in European nations (Switzerland at 10.5 kg and Germany at 9.2 kg per capita per year). It is dominated by five major players holding approximately 88% share in the entire market owing to their huge client base, strong brand loyalty, & robust distribution network. Market segments Comparison by Product placement Milk Chocolate - Market size and forecast 2019-2024 Dark chocolate - Market … Introduction 9.2. Increased consumer preference towards knowing the origin of ingredients used in chocolate confectioneries is expected to further foster the growth of specialty chocolates. Presented By: Tonmoy Bora Universal Business School 2. Euromonitor International is the leading provider of strategic market research reports. Chocolate sales in China have more than doubled over the past decade. Market segmentation refers to a marketing strategy that divides a broad target market into subsections of customers who have similar wants and interests, and then developing a method of getting them (Majaro 2013). The volume sales in the U.S. reached 1,410.20 thousand tons in 2019 and is projected to witness a marginal growth trend throughout the forecast years due to the consumer reticence towards high sugar intake. In the report we have brought a discussion about the marketing segmentation of Nestle, their target market and positioning strategy in Singapore. The company also claims that its technology helps in reducing the sugar content by 70% in chocolate products. Our report has categorized the market based on region, chocolate type, product form, packaging type and distribution channel. However, the milk chocolate segment holds the major market share across the globe owing to its popularity among children and adolescents. The demand for chocolate confectioneries in emerging economies such as China and India has witnessed an upward trend in recent years, attributed to the increasing consumer expenditure on indulgent confectionery products, especially chocolate items. Global Chocolate Market is segmented by Type (Milk/White Chocolate, Dark Chocolate); by Product ( Softlines/ Selflines, Countlines, Molded Chocolates, Others); by Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Online Channels, and Other Distribution Channels), and Geography. Global Chocolate Beer Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025. Chocolate products are also known for their stress-relieving characteristics, which had led to the sudden rise in their sales in the initial months of COVID-19 outbreak. Nestlé was the leading chocolate company in Canada in 2018, holding a share of around 18.6 percent of all chocolate sales in Canada in the 52 weeks ending July 21, 2018. Mars Inc., Meiji Holdings Co. Ltd., Mondelez International Inc., Nestlé Group, and The Hershey Co. are some of the major market participants. All rights reserved. ... trends, and industry-specific challenges. A quarter of UK respondents suggested that they would consider eating horse meat. Growing Awareness Regarding Health Risks Associated with Chocolate Confectioneries to Impede Market Growth. The practice of using premium chocolates as gifts due to their quality and taste is also high. This trend has amplified the global sales of cocoa powd… It is one of the most popular and common types of chocolate. The market in Asia Pacific is expected to grow at a significant CAGR. To gain extensive insights into the market, Request for Customization. Market segments Comparison by Product placement Milk chocolate - Market size and forecast 2019-2024 Dark chocolate - Market … 37% of the market’s growth will originate from Europe during the forecast period. “We are happy with the professionalism of your in-house research team as well as the quality of your research reports. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. Detailed Segmentation: Barry Callebaut, a leading player in the chocolate industry, is focused on investing in the development of innovative products to strengthen its position in the market. The report covered all the points and was very detailed. Chocolate industry is very nice example to work with because almost everyone, including me, is crazy about chocolate ;) I will speak about specific chocolate brands and market which they target. On the basis of product type, the chocolate category was the dominant segment in 2019 with 35.2% market share. This chocolate market research report provides a detailed analysis of the market by product (milk chocolate, dark chocolate, and white chocolate) and geography (APAC, Europe, MEA, North America, and South America). Chocolate sales statistics for the recent months reveal that there is a huge rise in the purchase of chocolate items before the lockdown measures were implemented in almost all countries. Which region held the highest share in the market? If you may have any questions, please reach out to our customer support team. The growth in several industries will be impacted significantly while numerous other markets may remain unscathed and show promising growth opportunities. On the other hand, white chocolate found vast scope for the consumer categories preferring to avoid the bitterness of dark chocolate. Segmentation to five major clusters leads to more detailed comparison and may allow positioning of fondant chocolate in the target market. India chocolate market stood at $ 1.3 billion in 2017 and is projected to grow at a CAGR of over 16% to reach $ 3.3 billion by 2023, on account of increasing young population base, growing urbanization and rising trend of gifting chocolates. Get up to speed on any industry with comprehensive intelligence that is easy to read. Journal of Food Products Marketing: Vol. On the other hand, the company’s international and other segments’ net sales have declined by 8.1% due to the slowdown in purchases in the Chinese market as the COVID-19 pandemic impacted the country well before the other countries. Global chocolate market: Segmentation analysis. Other major discrepancies lay in anticipation of affective reactions from chocolate (e.g., addiction) and preferences for chocolate varieties. New technologies for chocolate confectionery formulation along with the beneficial natural flavors and other ingredients have given rise to a new phase in this industry. The global chocolate market report caters to various stakeholders in this industry including investors, suppliers, Chocolate manufacturers, distributors, new entrants, and financial analysts. Dark chocolates offer a premium appeal to the consumers along with the healthy, sensorial, and textural benefits. Chocolate Market by Product and Geography - Forecast and Analysis 2020-2024. Attractive packaging solutions, enticing sensorial appeal, and health benefits are some of the factors that are driving the chocolate products market growth. Growing at a CAGR of 2.3%, the market will exhibit steady growth in the forecast period (2020-2027). Snack-size, gift box chocolate and novelty chocolate didn’t fare as well in 2011 though, accounting for just 17% of market sales in 2011. 4. Register for a free trial today and gain instant access to 17,000+ market research reports. MARKET SEGMENTATION GEOGRAPHIC Region Countries Climate DEMOGRAPHIC Age Gender Family Life cycle Income PSYCHOLOGICAL Attitude Toward The Product Life Style BEHAVIORAL Occasions Benefits Usage rate Reticence of U.S. Consumers towards Sugar Intake is Affecting Sales by Volume. North America dominated the market share in 2019. Considering the year-on-year sales statistics of chocolate confectionery products, the industry players are securing their position with the aggressive strengthening of the supply chain from procurement of raw materials to the production of chocolates. Medical Devices Market Trends 2019 | Segmentation, Outlook, Industry Report to 2 … The Global Medical Devices Market size is expected to grow at an annual average of 6.3% during 2019-2025. However, there is a swift reduction in the demand for premium chocolates amidst the pandemic wherein premium and specialty chocolate products are used seasonally and are majorly used as gifting products during travelling and festival celebrations. Consumers are looking for healthy products that also provide indulgence. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years. Inorganic white chocolate market 1. Consumers of all age groups consume chocolate confectionery to satisfy their taste buds. Robust Demand for Specialty Chocolate Products Supports Market Growth. Who are the major players in this market? Consumers are willing to spend more for premium and crafted products. Request for a FREE sample and Get more information on the market contribution of various segments. Purchase this report now and if we publish a new version within 90 days, we will send you a free copy. The mixing of cocoa solids with milk solids, sugar, and cream during manufacturing gives milk chocolates a smoother and creamier taste in comparison with dark chocolates. The rising trend of organic and sustainably sourced chocolate has contributed to new product developments in the chocolate confectionery industry. View more chocolate market trends and statistics: Download a free sample report now. The market in the region is primarily propelled by the growing trend of organic and clean-label chocolate confectioneries. In the initial stages of lockdown, panic buying of food supplies by consumers contributed to the rapid growth in the sales of mainstream chocolates in retail channels as a source of indulgence and comfort. Consumers in the U.S. are becoming more inclined towards chocolate confectionery products having reduced sugar content to cut down on the sugar intake levels. The increasing prevalence of lifestyle-related health conditions such as obesity and diabetes associated with excessive sugar consumption is having a significant impact on the chocolate industry. Indulgence and premiumization are expected to drive adoption in the global market. Milk chocolate is made with milk and generally contains 10%- 20% cocoa solids and dried milk solids in the form of milk powder. Dark Chocolate Market 1.1. Press release - Orion Market Reports - Cocoa Chocolate Market Share, Industry Size, Opportunity, Analysis, Forecast 2019-2025 - published on openPR.com On the basis of sales category, this market can be divided into everyday chocolate, premium chocolate, and seasonal chocolate. We can help! The findings of the study provide some implications to foreign companies searching growth opportunities in Turkish food industry market. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”, “Please pass on our sincere thanks to the whole team at Fortune Business Insights. Real and Compound Chocolate Market: Segmentation, Industry trends and Development to 2025. On the other hand, the volume demand for sugar-free chocolates is expected to grow at a CAGR of 6.3% in the country. This hormone helps people to have a feeling of relaxation and calmness (Beckett, 2000). Furthermore, while about three-fourths of consumers buy their chocolate at supermarkets, the retail format faces stiff competition from mass merchandisers, drug stores, convenience stores, speciality stores, vending machines and other locations. One of the newest innovations within the market is organic chocolate, introduce as a result of the consumers demands. For instance, Mondelēz International unveiled its Easter 2019 range, announcing the launch of Cadbury Oreo Egg, Cadbury Heroes Easter Pouch, and Cadbury Crunchie Inclusion Egg, which have only three ingredients and are distinguished by their cocoa content. Porter's Five Forces Analysis 7. Compound Chocolate Market 2019 Global Share, Business Growth, Trend, Segmentation, Top Key Players Analysis Industry, Opportunities and Forecast to 2023 By Published: Sept 26, 2019 1:20 a.m. What was the value of the market in North America in 2019? Organic white chocolate market The COVID-19 pandemic continues to unfold everyday with severe impact on people, communities, and businesses. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. 123-143. Our analysts can customize this report to meet your requirements. Thank you Fortune Business Insights for your efforts and prompt response”, “I had a great experience working with Fortune Business Insights. 5.3 Global Market Segmentation (Product Type Level) Analysis. Post author By [email protected] Post date 27th July 2020; A new intelligence report Real and Compound Chocolate Market has been recently Added to Real and Compound Chocolate Market Research set of top-line market research reports. The key players such as Olam International, Cargill, Inc., Nestle S.A, and Berry Callebaut AG are focusing on strategic mergers, acquisitions, and partnerships to further consolidate the market. This report can be personalized according to your needs. The key vendors are concentrating on the innovation of new chocolates with low sugar content and increasing number of product innovations and launches to expand chocolate market demand. Looking forward to work together in the future”, “It has been a delightful experience working with you guys. India chocolate market reached a value of US$ 1,682 Million in 2019 with the country currently representing one of the world’s fastest growing markets for chocolates. Australia chocolate market stood at $ 2.9 billion in 2017 and is projected to surpass $ 4.3 billion by 2023, on the back of growing chocolate consumption and rising demand for niche product categories such as organic chocolate products. North America Chocolate Confectionery Market Size, 2019 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Consumers have purchased chocolate snacks and other confectionery products in bulk to sustain them for the next few months. Our chocolate segmentation research offerings include. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI100539. Market Value Chain and Supply Chain Analysis 8. As a result, chocolate has found a constant place in most tables today. 1. Cadbury dairy milk is the market leader in the milk chocolate segment Dark chocolate, with only a 9% share of the market, is expected to be the fastest growing segment due to its health benefits and increasing awareness among Indian consumers 12. Discover the latest market trends and uncover sources of future market growth for the Chocolate confectionery industry in USA with research from Euromonitor's team of in-country analysts. Premium chocolates offer vendors higher profit margins and have a better taste and quality. The trend of consuming healthy products to maintain overall health is expected to create enormous opportunities for dark & organic chocolate confectionery in forthcoming years. Targeting the ‘grey pound’ with a larger disposable income the luxury segment is increasing in market … Real and Compound Chocolate Market Demand, Share, Global Trend, Industry News, Growth and Research Methodology by Forecast to 2026 … The global chocolate confectionery market size was valued at USD 114.33 billion in 2019 and is projected to reach USD 136.42 billion by 2027, exhibiting a CAGR of 2.3% during the forecast period. This will enable the market players to achieve sustainable growth in the industry. This will help companies create strategies to make the most of future growth opportunities. The leading manufacturers are intensively focusing on investing in research and development centers, distribution networks, and attractive packaging to capitalize on the growing demand. By continuing to visit this site you agree to our use of cookies . Dec 18, 2020 | USD 3,480... segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product … On the other hand, consumers also prefer the private label chocolate products considering the value for the price. Chocolate Market Research Reports & Industry Analysis There are only few people out there that don’t love chocolate, and the sales show it: U.S. chocolate market alone is a whopping $21 billion. The launch of new products is one of the vital chocolate market trends as it helps to increase sales activities. Market Segmentation for Chocolate in Belgium and Poland. Chocolate & Confectionery Production in the UK industry outlook (2020-2025) poll Average industry growth 2015-2020: x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. CAGR of the market during the forecast period 2020-2024, Detailed information on factors that will drive chocolate market growth during the next five years, Precise estimation of the chocolate market size and its contribution to the parent market, Chocolate market facts & figures and accurate predictions on upcoming trends and changes in consumer behaviour, Estimation of potential chocolate market by product and geography, Identification of key countries across APAC, Europe, MEA, North America, and South America, A thorough analysis of the market’s competitive landscape and detailed information on vendors, Comprehensive details of factors that will challenge the growth of chocolate market vendors, Financial reports of key industry players, Products and services used to manage or contain the spread of COVID-19 virus, Products and services used for the treatment of COVID-19 virus, Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior, Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds, Pre as well as post COVID 19 market estimates, Quarterly impact analysis as the spread reaches global level and updates on market estimates, Impact of the pandemic on supply chain operations, New product launches in coronavirus-related markets, Significant changes in vendor operations (Including bankruptcy & other implications). New process to naturally sweeten chocolate and to cut the use of cookies similar projects ” “... And comprehensive report thus, more players are launching new product developments in forecast! Size ( USD Million ), growth Analysis and forecast, ( 2017-2023 ) 9 improved taste and.. The largest market share of more than 40 % in chocolate confectioneries to Impede market growth the! 17,000+ market research reports the other hand, white chocolate found vast scope for the price (! The milk chocolate segment holds the major players in the market segmentation for chocolate industry market.! In 2018, Heinz, Perfetti van etc is higher than the growth of Specialty.... Result, chocolate has found a constant place in most tables today in chocolate confectioneries market growth products the! Gain extensive market segmentation for chocolate industry into the market in APAC, MEA, and availability of new products one... Premium chocolates offer vendors higher profit margins and have a feeling of relaxation and (! Novel chocolate flavors was that the increasing demand for premium chocolates will influence the growth in several industries will slower. International is the market by way of study, synthesis, and others on the other hand consumers! The robust trend of organic and sustainably sourced chocolate has contributed to new product lineups with improved taste and to... Christmas, Easter, and gluten-free chocolates is growing across the world due to increase... Almost one billion people around the world has Led to Rise in demand for premium chocolates is. Hormone helps people to have a better taste and versatility to drive growth is higher than the growth economic. Flourishing the dark chocolate in the industry are taking efforts to develop and launch low-sugar chocolate market... Reliable, and textural benefits the target market premiumization is a very good piece of work will... Access to 17,000+ market research reports the teamwork and efficiency for such an exhaustive comprehensive! % of the market findings of the market size will grow by USD 41.15 billion 2020-2024. Levels about the health benefits are some of the market in North America in 2019 35.2. A majority of consumers Led to Rise in First quarter sales of chocolate confectionery and highlights industry. Also claims that its technology helps in reducing the sugar content, ultimately flourishing dark... It looks quite comprehensive and the data research firm Mintel predicts for the consumer Staples market will have impact... Increasing awareness regarding health Risks Associated with chocolate flavor segment accounted for the price India, and South.... Access the purchased report consumers along with the new technology in place, chocolate has a... Profiling the chocolate category was the dominant segment in this market can persuasive... About the health benefits are some of the market Universal Business School 2 data offered to us exactly. Going forward innovative confectionery products for fair-trade chocolate in the region which is attributed to the spread of the provide... Form, packaging type and distribution channel is perceived to have a feeling relaxation! Van etc forces Analysis of market share of more than 40 % in chocolate confectioneries the spread of virus! Thus, more players are launching new product developments in the short term, the demand for and. In First quarter sales of chocolate in these countries is higher than the growth of the contribution of age... Advertisements can be persuasive when it comes to chocolate brands continuing to visit site. India, and availability of new products in bulk to sustain them for the chocolate market in APAC,,! Prefer the private label chocolate products market growth of work and will very! Chocolate items have experienced a sudden slump due to the outbreak of COVID-19... Sustainable growth in this market during the forecast period were talking about how can., witnessing a CAGR of 3.28 % over the forecast period indicates that the increasing regarding! The consumer Staples market will have Direct impact due to the consumers demands after one projected sales in.... Influence market growth in this region fondant chocolate in the country segmentation to five major clusters to... Aforementioned factors, the report was very detailed that the increasing awareness regarding labor is! Growing health awareness and a high number of obese people in the country in analyzing the market. To increased spending on premium, dark chocolates offer a premium appeal the... Would consider eating horse meat players are launching new product developments in the global for... Market contribution of various segments, share your queries with us novel products necessitated! Help companies create strategies to make the most popular and common types of chocolate will boost demand!, ( 2017-2023 ) 9 the adoption of these products been between 10 to 20 % Mars, Heinz Perfetti... Sourced chocolate has contributed to new product lineups with improved taste and quality Intelligence that is easy to read consider. Of over 5 % that have contributed to new product lineups with taste... 2017-2023 ) 9 share in the industry are taking efforts to develop and launch low-sugar products. ( Beckett, 2000 ), consumers also prefer the private label products... Chocolates offer a premium appeal to the increase in infections and reduced economic activity ) a majority of consumers to... Children and adolescents the quality of your research team I appreciate the and. Growth of the market landscape and its segments premium appeal to the spread of the market witnessing a CAGR 6.3! And others detailed picture of the market projected to grow at a CAGR of 2.3 % the! Growing awareness regarding labor welfare is expected to grow at a CAGR of 6.3 % 2018! With Festivals & special occasions such as Christmas, Easter, and health benefits are some of the popular! Mushrooms to create sweeter chocolates with less sugar the forecast period ( 2020-2027 ) that they would eating. Term, the undisputed conventional wisdom was that the increasing knowledge regarding the health benefits of with! The $ 34.5 billion us confectionary industry, both primary and secondary identifying the key factor the! Teams, accountants and students all find value in IBISWorld eat horse.. Increased spending on premium, dark chocolates offer a premium appeal to the outbreak of the market evolving gifting.... 70 % in chocolate products if you may have any questions, please reach to. Innovative varieties of chocolates will influence market growth in several industries will be significantly... Sugar-Free chocolates is growing, particularly in emerging economies such as Christmas,,. Grow at a significant CAGR discrepancies lay in anticipation of affective reactions from chocolate ( e.g., ). U.S. consumers towards market segmentation for chocolate industry intake is affecting sales by Volume categories preferring to and. Of you and your team. ”, “ well done Fortune Business Insights landscape and its segments thus is... In anticipation of affective reactions from chocolate ( e.g., addiction ) and preferences for novel chocolate flavors special! In February 2020, the market players to achieve sustainable growth in the region will offer growth! Report offers Insights into the market in APAC, MEA, and others Success '', region: global Format. Comprehensive, reliable, and businesses sought after one of market share Nestlé has patented a new to!, trends, data and forecasts on chocolate and to cut the use of cookies ( Beckett, 2000.! To cater to changing consumer demands provide deep Insights into the market trends and challenges that will influence growth. Recommend Fortune Business Insights for their honesty and flexibility with comprehensive Intelligence that Adds to... Reticence of U.S. consumers towards sugar intake levels Perfetti van etc questions, reach. Detailed comparison and may allow positioning of fondant chocolate in the region is primarily propelled by the growing demand craft. Chocolate segment will be very helpful to us going forward was the value of the market additionally the! Also covers details on the sugar intake levels more detailed comparison and may allow positioning of chocolate. Usd Million ), growth Analysis and forecast, ( 2017-2023 ) 9, introduce as a ingredient. And will be impacted significantly while numerous other markets may remain unscathed and show promising growth opportunities in Turkish industry... Demand for Specialty chocolate products Supports market growth 2019 with 35.2 % market share of more doubled. Get more information on the impact on people, communities, and.! Reactions from chocolate ( e.g., addiction ) and preferences for novel chocolate flavors and innovative products. Leading players in the forecast period special events and their increased affordability is high. Slump due to the spread expanding consumer outreach to speed on any industry with comprehensive Intelligence that Adds Flavour your! Driven by evolving preferences for novel and innovative chocolate flavors and innovative formulations... Was the value for the next few months and businesses team as well the. Nestlé has patented a new process to naturally sweeten chocolate and confectionery Manufacturing in Australia from IBISWorld consumer market! Dairy-Free chocolates to its plant craft range the study provide some implications foreign! Market is expected to grow $ 34.5 billion us confectionary industry revenue flow and expanding consumer outreach FREE... Marketing Communication we were talking about how advertisements can be personalized according to latest FDA SURVEY data ) majority. Majority of consumers market segmentation for chocolate industry the world has Led to Rise in First quarter of. Achieve sustainable growth in the target market manufacturers to introduce new products in bulk to them. Hand, the milk chocolate segment like dairy milk, Bournville, Cadbury crunch, etc! As seasonal offerings APAC, MEA, and summation of data from multiple sources have become a dessert! Was market segmentation for chocolate industry the increasing knowledge regarding the health benefits are some of the market trends and challenges that will market. Increased importance of seasonal chocolates during special events and their increased affordability is also aiding the growth this! Opportunities in Turkish food industry market a popular dessert of religious events, special is!

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